WASHINGTON, DC – June 4, 2007 – Liquidity Services, Inc, (LSI), a leading online auction marketplace for wholesale, surplus and salvage assets, has earned the number 18 spot on BusinessWeek’s Hot 100 Growth Companies annual listing. Among the list of Best Small Companies to Watch, LSI placed in the top twenty percent with 2006 sales of $173 million and earnings of $9.4 million. LSI operates business-to-business online auction marketplaces to provide businesses and government agencies with a complete solution to sell surplus and salvage assets.
“LSI is revolutionizing the highly fragmented reverse supply chain and liquidation industry,” said Bill Angrick, Chairman and CEO of LSI. “We continue to demonstrate the strength of our value proposition with 18 consecutive quarters of profitability including six consecutive quarters of over 100% year-over-year growth in our commercial division. The dedication and teamwork of our employees have enabled us to continue to diversify and strengthen our business as we continue to build the market leading company in our space.”
LSI’s overall strategic objective is to develop the largest and most efficient online marketplace for merchandise moving through the reverse supply chain. It’s end-to-end solution delivers high customer value by combining all the required services to store, market, sell, ship and pay for goods in a single offering on the Internet.
To identify Hot Growth companies, BusinessWeek sifts through the Standard & Poor’s Compustat database of 10,000 public companies for those with revenues of $50 million to $1.5 billion a year. Businesses are ranked by three-year sales and earnings growth as well as return on capital. Companies must have a market cap of $25 million or more and a stock price of at least 5. Profit or stock price shortfalls, or news that puts prospects in doubt, may knock a company off the list.
BusinessWeek’s cover story “Hot Growth Companies” and a feature article on LSI is available online at www.businessweek.com in the June 4, 2007 issue.
About Liquidity Services, Inc. (LQDT)
Liquidity Services, Inc. (NASDAQ:LQDT) and its subsidiaries enable corporations and government agencies to market and sell surplus assets and wholesale goods quickly and conveniently using online auction marketplaces and value-added services. The company is based in Washington, D.C. and has over 500 employees. Additional information can be found at: www.liquidityservicesinc.com.
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